Ditto Insurance

Ditto Insurance, initially taking root as Finshots in 2019, embarked on a mission to demystify the often-complex world of finance for millennials. The brainchild of three Indian Institute of Management Ahmedabad batchmates, Shrehith Karkera, Bhanu Harish Gurram, and Pawan Kumar Rai, Finshots began by publishing concise weekly articles that broke down intricate stock-related topics into easily digestible 12-minute reads. This approach quickly gained traction, making financial concepts more accessible to a wider audience. Recognizing the need for a similar simplification in the insurance sector, the founders, joined later by Lokesh Gurram, launched Ditto Insurance in 2021. The venture received a significant boost with seed funding from Nithin Kamath, the founder of Zerodha, who was impressed by their vision.

From its inception, Ditto's philosophy centered on an advisory-first approach, prioritizing customer understanding over mere sales. The company set out to tackle the prevalent issues of mis-selling and spam in the insurance industry by offering a platform where individuals could receive honest, personalized guidance without the pressure of aggressive sales tactics. Operating under Tacterial Consulting Private Limited and later Ditto Insurance Broking Services LLP, the company secured its license from the Insurance Regulatory and Development Authority of India (IRDAI) in December 2020 and officially commenced operations in January 2021. Headquartered in Bengaluru, India, Ditto quickly established itself by focusing on health and term life insurance, offering free consultations with IRDAI certified advisors. Their commitment to transparency and customer education resonated with consumers, leading to a high customer satisfaction rating. The company's model involves providing end-to-end assistance, from understanding policy basics and comparing options to navigating the application process and offering lifetime claim support. This customer-centric strategy, coupled with a no-spam promise, has helped Ditto carve out a distinct niche in the competitive insurtech landscape, aiming to build an insurance platform free of conflicts and focused on handholding people through their insurance journey.